El Al CEO sells shares for $2.2 million as stock hits new heights after war-driven demand
Dina Ben Tal Ganancia locks in a $1.45 million profit following the airline’s record-breaking year.
El Al Airlines CEO Dina Ben Tal Ganancia sold shares of the company for NIS 8 million ($2.2 million) on Sunday, according to a report El Al submitted to the stock exchange this morning.
According to the report, Ben Tal Ganancia exercised some of her options, converting them into shares, and immediately after the conversion, she sold some of those shares. She sold 693,300 shares at a price of NIS 11.55 ($3.16) per share—similar to the market price.
The exercise price of the options, which she received in December 2022, was NIS 3.89 ($1.06), so Ben Tal Ganancia's profit from the sale amounts to NIS 5.3 million ($1.45 million).
The controlling owner of El Al, the Rozenberg family, also exercised options it held and increased its holdings from 47% to 48%, with an investment of NIS 60 million ($16.4 million). The family purchased each share for NIS 5.66 ($1.55), while El Al’s share price is currently NIS 11.5 ($3.14).
El Al’s stock has surged 122% in the last 12 months, bringing the company’s market value to NIS 5.9 billion ($1.61 billion).
The airline concluded 2024 with record results, as revenues jumped 37% to $3.4 billion, and net profit soared 4.7 times to $545 million.
The sharp increase in financial performance was driven by high ticket prices and strong demand, which boosted occupancy rates and sustained premium fares. The war played a key role in El Al’s success, making it the default choice for Israeli travelers. The airline has become the largest carrier at Ben Gurion Airport, holding close to 50% of the market overall and 100% on highly profitable North American routes.
